Presale information, May 7th Q&A
For convenience, we are providing a recap of information shared in our May 7th Q&A. Most questions were about our presale and details of our token.
The most up to date info is always at the presale page.
Presale
The presale will run next week, from May 14th to May 17th 16:00 UTC. We aim to run the public sale about 3 months after the presale.
Anyone will be able to participate in the presale, provided they answer that they are not a US person in our questionnaire.
Presale supporters will get 200% APR compared to public sale participants. The main goal of the presale is to let our community get in at the ground floor.
The presale tokens are from the same pool as the subsequent public sale, with guaranteed better price to result in 200% APR.
For example, if the public sale is 90 days after the presale (as expected), the presale participants would get 1.4931x more tokens compared to public sale participants contributing the same amount. In case the public sale is conducted later than currently expected, our APR based approach would simply result in a higher multiplier for presale participants.
Public Sale
For the public sale, there might be multiple tranches with different multipliers and vesting schedules. AVAX public sale used a similar mechanism with great results. The idea is that people can choose a longer lockup and get a better price.
SEXP Token
SEXP token is deflationary with limited supply.
Our current approach allows people to participate in the presale using a simple token transfer rather than through a smart contract. All the information is stored in the blockchain, so we can calculate the proper number of tokens everyone should get and mint them once the public sale is concluded.
Our plan for the token distribution is:
- 10% Marketing
- 10% Platform Incentives
- 20% Operations & Dev Grants
- 20% Founding Team (locked)
- 25% Locked for Public Sales in the Far Future
- 15% Public Sale & Presale
SEXP token is going to be tradeable after the public sale. We expect to run the public sale about 3 months after the presale.
We are going to have various deflationary mechanisms, such as burning unclaimed airdrops and fees. Together with finite supply, this should create a desirable trajectory. As the platform grows and we launch more products, the SEXP token is going to be used across all of our products. I like what Binance is doing with BNB, where they are adding new uses for the token constantly.
Project
You can find a link to testnet preview of SEXP Binary Options on our main page or go directly to the preview on testnet.sexp.exchange
We plan for the long term. The founder allocation is going to vest over a year and we also have allocations for grants to 3rd party developers and for other operations purposes. The ultimate goal is to make the project sustainable.
Our plan is to airdrop tokens to users of similar projects on other blockchains, such as Sparta on BSC or Synthetix on Ethereum. This should result in an influx of new users. Airdrops like this, are an effective way to facilitate user growth because those users have already demonstrated that they want to use this kind of product. Unclaimed airdrops would be burned after some time.
We are also going to award bounties for tutorials, guides and other content about SEXP.
Rewards for early users and liquidity providers are key to ensure fast user growth, so we are likely to have them. In the case of our main planned product SEXP Synthetic Swap these are most likely going to be rewards for providing liquidity to DEX pairs of synthetic assets and/or interest for minters. So for example, liquidity providers in the sXTZ/XTZ pair on Quipuswap would be rewarded.
In addition to planned prodcuts in our roadmap, we are also exploring a multi-stablecoin DEX similar to Curve finance and yield farming products.
Team
Our previous projects include oracles, insurance applications, wallets and standards for wallet interaction. For example, here is some media coverage of one of our older projects.
I believe in running lean teams. The SEXP Binary Options product was built by 2 engineers. In the past we have built other applications on Tezos with a team of 3 engineers. Keeping the headcount down allows us to iterate fast and stay on top of DeFi trends. In case of growth, we would have small teams building more products in parallel.